Question
Kim purchased 500 shares in Prompt Messenger Services for $12,000 on November 21, 2020. The company went bankrupt on June 12, 2021, with no hope
Kim purchased 500 shares in Prompt Messenger Services for $12,000 on November 21, 2020. The company went bankrupt on June 12, 2021, with no hope of recovery for the shareholders. On what date is the stock deemed to be worthless and what is the nature of the loss? Multiple Choice
December 31, 2020, short-term loss in 2020.
June 13, 2021, short-term loss in 2021.
December 31, 2021, short-term loss in 2021.
Kim purchased 500 shares in Prompt Messenger Services for $12,000 on November 21, 2020. The company went bankrupt on June 12, 2021, with no hope of recovery for the shareholders. On what date is the stock deemed to be worthless and what is the nature of the loss?
Multiple Choice
December 31, 2020, short-term loss in 2020.
June 13, 2021, short-term loss in 2021.
December 31, 2021, short-term loss in 2021.
December 31, 2021, long-term loss in 2021.
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Handbook Of Energy Audits
Authors: Albert Thumann, Terry Niehus, William J. Younger
8th Edition
1439821453, 978-1439821459
